These three tips will help you as you try to balance buying and selling.
Similar to the age-old question about the chicken and the egg, what should people do first, buy or sell? Many people have asked me that, and my answer depends on the specific situation. However, one thing that’s universal is you need to be prepared so you can minimize your stress. To help with this, here are three things you should focus on when you’re worried about buying and selling at the same time:
1. Get a mortgage preapproval. It’s very important that you do this step, and if you need help finding a lender, I have some great ones that I can hook you up with. By speaking with a lender and going through the preapproval process, you can find out whether or not you qualify to buy your new home without selling your current one. Then you would have the freedom to find your dream home, secure it, and then list your current home for sale.
“This will help you navigate buying and selling at the same time.”
2. Start preparing your home for the market. Even if you haven’t found a new home, it’s never too early to start working on getting your current home ready for sale. Figure out what needs to be fixed and get those things done, whether it’s touching up paint, fixing a broken cabinet, or decluttering. That way you’ll be ready to list your home quickly and you’ll minimize the amount of time that you’re paying for two houses.
3. Have your Realtor negotiate a leaseback agreement. If you can’t afford to buy a new home while you’re still in your old one, this can truly help you. This agreement allows you to stay in your home after closing, usually for around 60 days, which is a great amount of time to find a new home and move in.
I have successfully used these strategies with countless buyers and sellers, so I can help you too! If you’d like to go through your situation in more detail, don’t be afraid to call or email me anytime. I would be happy to help you.
